LegacyFX
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77% of retail CFD accounts lose money.

Vs.

AvaTrade
Visit

71% of retail CFD accounts lose money.

LegacyFX Vs. AvaTrade - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Dec 19 2022

Visit

77% of retail CFD accounts lose money.

Visit

71% of retail CFD accounts lose money.

Overview

Legacy FX is a cypriot broker founded in 2017 that specialises in CFDs trading via MetaTrader 5 for mobile, web and desktop devices.

AvaTrade is a top-tier multinational broker with more than 7 financial regulators specialising in FX and options trading with their own proprietary platforms.

Best For
  • Traders looking for a CySec broker that offers a trading signals service
  • New traders looking for a more advanced forex and options platform
  • Experienced traders looking to take advantage of their fixed spreads
  • Experienced traders looking to trade FX options
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

0

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

6

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • CySec (Cyprus)
  • VFSC (Vanuatu)
  • ASIC (Australia)
  • FFAJ (Japan)
  • CBI (Ireland)
  • IIROC (Canada)
  • CySec (Cyprus)
  • FSCA (South Africa)
  • ADGM (United Arab Emirates)
  • ISA (Israel)
The Good
  • Proprietary signals channel (untested by us)
  • Fixed spreads (at their discretion subject to change)
  • AvaProtect feature for negative trades payback
  • Great variety of platforms (proprietary ones, MT4 & MT5)
  • Smooth platform experiences and easy account management
  • Custom Options trading platform
The Bad
  • High minimum deposits (From $500 to $25,000) for their various account types
  • Extremely high spreads when compared to similar brokers
  • Low asset offering with poor categorisation
  • Subpar regulatory framework
  • Only MT5 platform is offered
  • Lack of variety in stocks, ETFs and bonds
  • Expensive inactivity fees
  • No multi-chart tools
  • High trade minimums in all assets except forex
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 day 1 day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2017 2006
💳 Minimum Deposit Range
From $500 to $25,000 $100
💰 Payment Methods
  • Visa
  • Mastercard
  • Neteller
  • Skrill
  • Klarna
  • iDeal
  • GiroPay
  • Perfect Money
  • AVOPayments
  • eftPay
  • Volt
  • Cash
  • Load
  • Jeton
  • Gigadat
  • Visa
  • Mastercard
  • Bank Transfer
  • Paypal
💵 Account Base Currencies
11 - USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR. 4 - USD, GBP, EUR, CHF.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries

US, CA, BE, FR, IL, IR, SY, AF, MM, SO, YE, IQ, SS, SD.

US, BE, IR. 

📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Banking License
No No
Debit Card
No No
Assets
📚 Assets Type
CFDs CFDs
Total Asset Offering
292 863
Exchange Access
0 0
📙 Real Stocks
0 0
📙 Stock CFDs
200 626
📘 Currency Pairs
0 0
📘 Currency Pair CFDs
40 55
📗 Commodities
0 0
📗 Commodities CFDs
24 27
📕 Indices
0 0
📕 Indices CFDs
18 33
📔 ETFs
0 0
📔 ETFs CFDs
0 59
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
10 17
📒 Bonds
0 0
📒 Bonds CFDs
0 2
📓 Options
0 0
📓 Options CFDs
0 44
📗 Futures
0 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable Variable - From 1 to 100 units
📉 Minimum ETFs Trade Size
Unavailable Variable - From 1 to 100 units
📈 Minimum Crypto Trade Size
Unavailable Variable (eg: BTC 0.01, ETH 0.1)
📉 Minimum FX Trade Size
$10,000 (0.1 Lots) $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
$10,000 (0.1 Lots) Variable (eg: 1 ounce of gold)
📉 Minimum Bonds Trade Size
Unavailable 10 units
📈 Minimum Futures Trade Size
Unavailable Unavailable
📉 Minimum Options Trade Size
Unavailable 10,000 FX Option contracts
💪 Retail Leverage
30 30
💪 Professional Leverage
500 500
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
No No
🎓 Demo Account
Yes Yes
📱 IOS App
No Yes
📱 Android App
No Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
Yes Yes
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes No
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No No
Fees
💰 Inactivity Fee

Yes, 10 units of account base currency after 90 days of inactivity.

$50 per quarter after 3 months of inactivity.

💰 Deposit Fees
None None
💰 Withdrawal Fees
None None
💰 Commissions

Yes, ranging from 0.15% to 0.45% of trade value for stocks only.

None
Spreads
📈 EUR/USD
Dynamic - From 1.6 Pips Dynamic - From 0.9 Pips
📉 SP500
Dynamic - From 120 Pips Dynamic - From 50 Pips
📈 GOLD
Dynamic - From 63 Pips Dynamic - From 34 Pips
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $1.92
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Dynamic - From $505 Dynamic - From $137.31
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No
📡 Educational Content
No Yes
📡 Live Chat Support
No Yes
📡 Video Tutorials
No No
📡 Account Management
Yes No
📡 Webinars
No No